Answered

Welcome to Westonci.ca, your go-to destination for finding answers to all your questions. Join our expert community today! Join our platform to get reliable answers to your questions from a knowledgeable community of experts. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

Kandy Kane Corporation has income before taxes of $400,000 and a loss from discontinued operations pretax of $100,000. If the income tax rate is 25% on all items, the income statement should show income tax expense of

Sagot :

Answer:

The income tax expense = $100000

Explanation:

Below is the given values:

Income before the taxes = $400000

Loss discontinued = $100000

Income tax rate = 25%

In order to calculate the income tax expense, just find the 25% of the income before tax and the resulting answer will be the income tax expense.

The income tax expense = 25% x 400000

The income tax expense = $100000

Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.